New Hire or Retention Bonus
Attracting & Retaining Talent: Competing in a tight talent market.
Solution: Instead of offering $80k salary, offer $75K salary plus a $5K paid 401(play) vacation that vests over the year. You pay less payroll tax and look more innovative to potential new hires!
Funding PTO Accrual
PTO Liability: PTO accumulating on the books causing a big financial risk for companies.
Solution: Each pay period deposit the value of PTO into each employees 401(play) account. When the employee needs time off the employer only manages the “leave” portion based on the federal/state laws and company policies.
Rewards & Recognition
Performance and Engagement: Reward meaningfully on things that matter most to employees.
Solution: Create sales or operation contests through the easy-to-administer 401(play) platform by rewarding meaningful bucket-list travel that supports life satisfaction, not just job satisfaction.
Shifting culture: Demonstrating that you “Care” about your employees.
Solution: By providing even just a small paycheck contribution each month, employers can demonstrate that they care about their employee’s health and wellbeing, helping to set the company culture. A small contribution lets the employee know that when they do go on vacation, “dinner is on us!”
Productivity & Performance
Health & Wellbeing: Integrate travel and the importance of taking time off to help drive organizational health and performance.
Solution: Promote employees to take at least one vacation per year. Vacation improves employee focus (78%) and alleviates burnout (81%). ~SHRM
Financial Barriers: Eliminate planning and financial barriers that keep employees from taking vacations.
Solution: Utilize 401(play)’s budgeting and financial tools to ensure that team members save responsibly for future vacations.